Beating the Bear Market: Saving Some of Your Income

Today’s words of wisdom from Paul Farrell’s MarketWatch article on ten things that can help you beat the bear market are rather simple: save. Farrell recommends that you set aside 15% of your income in some sort of savings, whether it’s retirement accounts, stock investing or some other vehicle. But he also says that 10% should be the minimum:

Here are two key formulas to remember: One, if you’re not saving at least 10% then you are spending too much. Two: Nothing saved equals nothing invested equals nothing compounding equals nothing in your retirement nest egg.

You can’t beat the bear market, or the coming recession, if you  keep spending.

Other posts in this series:

Early Retirement 

Working 

Do-It-Yourself

Go Contrarian